Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

July 21, 2017 - 8:38pm
Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

The euro's surge to an almost two-year high put a cap on the global market rally in Friday's quiet session, with most major exchanges consolidating after a second strong week of gains. The MSCI Asia-Pacific index declined for first time in ten days while the European Stoxx 600 index was fractionally in the green as were US equity futures ahead of earnings reports from General Electric, Honeywell, Schlumberger and others. Oil gained with Brent flirting with $50, zinc rallied along with most base metals.

House of Cards

July 21, 2017 - 8:33pm

House of Cards
Paul Craig Roberts
Despite unrealistic plots and weak characterization (except for Francis Urquhart), Michael Dobbs’ books, House of Cards, Play the King, and The Final Cut were best sellers that provided the basis for a long-running TV series.

Bitcoin (BTC/USD) Nears All-Time High on Spike Above Daily Chart Downchannel Resistance

July 21, 2017 - 6:55pm
Bitcoin (BTC/USD) Nears All-Time High on Spike Above Daily Chart Downchannel Resistance

Bitcoin (BTC/USD) crushed shorts yesterday, smashing above the daily chart's downchannel resistance and soaring towards the all-time high around 3000.  With yesterday's massive rally, the negative weekly MACD crossover has been proved a false signal.  Odds are quite good that a sustainable longer term BTC/USD bottom was found last week, especially with ETH/USD also strongly rebounding this past week.

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